Pine Labs Approves 100% Acquisition Of Shopflo For ₹88 Crore To Boost Commerce Platform
· Free Press Journal
Bengaluru: Pine Labs is moving to close a critical gap in online commerce by acquiring Shopflo, a checkout-focused platform designed to improve how customers complete purchases.
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Takes Full Ownership
Pine Labs’ board has approved the acquisition of a 100 percent stake in Shopflo Technologies Private Limited through a cash deal valued at up to Rs 88 crore. The transaction will be completed in one or more tranches within a three-month window. The acquisition is not classified as a related party transaction, and no regulatory approvals are required to proceed.
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Shopflo, incorporated in December 2021, operates a direct-to-consumer checkout platform offering e-commerce enablement tools and technology solutions. The company reported turnover of Rs 147.35 million for the year ending March 2025, up from Rs 91.58 million in 2024 and Rs 6.33 million in 2023. This rapid growth reflects increasing adoption among digital brands seeking better checkout experiences.
Targets Conversion Gains
The acquisition is aimed at addressing a persistent challenge in online commerce—customer drop-offs during checkout. Shopflo’s platform has helped merchants improve conversion rates by 15 to 20 percent by simplifying processes such as form filling, payment selection, and discount application. Pine Labs sees this capability as a natural extension of its existing payments infrastructure, allowing merchants to move from transaction processing to complete purchase optimization.
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Pine Labs is positioning itself as a full-stack commerce provider by combining offline payments, online checkout, and customer engagement tools into a single platform. Management indicated that the integration of Shopflo will allow merchants to access seamless data insights, improve retention, and streamline operations across channels. The move aligns with Pine Labs’ broader push to build an end-to-end ecosystem that supports merchants throughout the customer journey.
Strengthens Growth Strategy
The company’s online payments business has already shown strong momentum, with revenue growing around 50 percent year-on-year as of its Q3 FY26 results. By adding checkout intelligence to its offering, Pine Labs aims to deepen its presence in digital commerce and expand into new merchant categories, reinforcing its competitive positioning in both domestic and global markets.
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Disclaimer: This article is based solely on the contents of the provided company filing and press release document and does not include any external sources or independent verification.